Thrive is raising $10 billion for a new fund, its largest to date

Thrive Capital just raised $10 billion for a new fund, the largest it has ever raised and nearly double the size of its last fund. Of this amount, $1 billion is allocated to early-stage investments, while the rest is allocated to growth-stage investments, according to an announcement by the company.

Thrive told Bloomberg that this latest fundraising was oversubscribed. This is the firm’s 10th fund – called Thrive Some of the company’s other notable investments include Databricks, Anduril, and Cursor. The company is also incubating companies, having created 12 so far, with at least six now reaching unicorn status.

The company’s strategy is to “deeply commit to a small number of founders,” the company said in its announcement. “Focus requires loyalty to our founders and the missions we support.”

Speaking to Bloomberg, Josh Kushner, the company’s founder, said he believes the winners of the AI ​​boom “will be bigger than we can imagine,” and that the technology is still nascent.

Thrive’s massive increase also indicates something else. IPO rumors have swirled around OpenAI and SpaceX in particular, bringing significant interest from limited partners awaiting returns. These two businesses could lead to an unprecedented influx of capital to limited partners.

We’ve reached out to Thrive for more information.